Use the Following Information for Questions
Ling Company Had $\bullet$

question 52

Multiple Choice

Use the following information for questions
Ling Company had the following transactions during 2011:
$\bullet$ Sales of ¥9,000 on account
$\bullet$ Collected ¥4,000 for services to be performed in 2012
$\bullet$ Paid ¥1,250 cash in salaries
$\bullet$ Purchased airline tickets for ¥500 in December for a trip to take place in 2012
-What is Ling's 2011 net income using cash basis accounting?

• A)¥11,750.
• B)¥2,750.
• C)¥11,250.
• D)¥2,250.

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Definitions:

Job Specialization

The process of focusing on and becoming an expert in a specific area of work or skill within a larger operation.

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A theory in social psychology that explains how individuals perceive and react to fairness in the distribution of resources within interpersonal relationships.

Managing

The act of overseeing or controlling operations, people, or resources to achieve certain objectives.

Motivation

The psychological process that stimulates and directs behavior towards achieving specific goals or fulfilling needs.